Using Dutch data we empirically investigate how financing and innovation vary across firm characteristics. We find that … when firms face financial constraints, debt financing and innovation choices are not independent of firm characteristics …

This paper introduces dynamics in the R&D to innovation and innovation to productivity relationships, which have mostly … individual effects and idiosyncratic errors correlated across equations and that differ in the way innovation enters the … Community Innovation Survey. The results provide evidence of robust unidirectional causality from innovation to productivity and …

This paper presents a dynamic model of a competitive R&D and production duopoly subject to knowledge spillovers. Two … asymmetric firms operate for a limited period of time and dispose their knowledge capital in the end. Both firms and the social … planner prefer the R&D-cooperative strategy over the competitive one regardless of the intensity of knowledge spillovers …

We construct an asymmetri c duopolistic R&D and production behavior model subject to knowledge spillovers. This model …

may even reduce welfare. The reason is that it crowds out proprietary innovation which on net may reduce total innovation … in the long run. These effects would be reinforced if philanthropical innovation diverted people from other productive …